SBA launches $200 million five-year term A at Libor plus 250 bps

By Sara Rosenberg

New York, April 4 - SBA Communications Corp. launched its $200 million five-year amortizing term loan A (Ba2/BB) with talk of Libor plus 250 basis points, according to a market source.

TD Securities (USA) LLC and Wells Fargo Securities LLC are joint lead arrangers on the deal and joint bookrunners with Citigroup Global Markets Inc., RBS Securities Inc. and Deutsche Bank Securities Inc.

Proceeds will be used for general corporate purposes, including repaying borrowings under a revolving credit facility.

With this transaction, the revolver will be increased by $200 million to $700 million through commitments from the existing lender group.

The new term loan A and revolver upsizing are being done under the existing credit facility's accordion feature.

SBA is a Boca Raton, Fla.-based provider, owner and operator of wireless communications infrastructure.

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